MARKET ENDED 19.04.2010 MONDAY

MARKET ENDED 19.04.2010 MONDAY

SENSEX 17400.68 -190.50

NIFTY 5303.65 -58.95

NASDAQ 2465.99 +08.12

DJIA 11019.42 +13.45

RS/$ 44.62 -00.27

Equities in India ended in the negative territory on Monday as sentiments across global markets turned bearish following fraud charges against Goldman Sachs by the US Securities & Exchange Board. Traders were also wary ahead of Reserve Bank of India’s policy meet Tuesday, where it is expected to hike rates by 50 bps.

Indices opened gap-down and drifted lower as profit booking intensified in high-beta sectors like realty, metals and oil & gas. However, the benchmarks bounced back from support levels and ended off day’s lows.

Indices are likely to face resistance at the 17700-17800-18000/5280-5350-5400 levels (on Sensex and Nifty respectively). Any surge in the indices may see profit taking around the indicated resistances. Downside supports are placed at the 17350-17200-17050/5200-5150-5100 levels.

Depending on the global cues we expect to see an upward movement from the mentioned supports and trades could be influenced by strong moves sectorally.

Any move until the above mentioned resistances shall be utilized to exit from long positions and lookout for a sustainable move. However, looking at the broader scenario we advise investors to play the broad range movement with caution and strict stop losses

Bombay Stock Exchange’s Sensex ended at 17,400.68, down 190.50 points or 1.08 per cent. The 30-share index hit a low of 17276.80 and high of 17584.86

National Stock Exchange’s Nifty closed at 5203.65, down 58.95 points or 1.12 per cent. The index touched intraday low of 5160.90 and high of 5279.05

BSE Midcap Index was down 1.03 per cent and BSE Smallcap Index slipped 1.5 per cent.

Amongst the sectoral indices BSE Realty Index fell 2.51 per cent, BSE Metal Index slipped 2.11 per cent and BSE Oil&gas Index moved 1.96 per cent lower.

Losses in DLF (-4.62%), Siemens (-3.88%), Tata Steel (-3.79%), Cairn India (-3.06%) and Sterlite Industries (-3.06%) sent the Nifty lower.

Nifty gainers comprised Hindalco Industries (2.12%), Axis Bank (1.17%), IDFC (0.99%), ABB (0.76%) and Cipla (0.56%).

Market breadth remained negative with 1953 declines against 950 advances on the BSE.

Meanwhile, European markets were in the red as traders booked profits in financials and commodities. The profit booking is likely to extend in the US. At 4:50 pm IST, Dow Jones futures was down 0.40 per cent, S&P 500 futures slipped 0.47 per cent and Nasdaq 100 declined 0.39 per cent.

Regards,

RAKESH MAKIN

Chugh securities Pvt Ltd

+91 9915684997,9041667797(DIRECT)

OFF 0172-4657997

PANCHKULA (Haryana).

Email:makin_97@yahoo.com

Email:rakeshmakin@yahoo.com

Blog :http://wwwmakin97-nse.blogspot.com/

PERF: http://makin97researchservices.blogspot.com/

Home page: http://in.groups.yahoo.com/group/makin97NSEtips

Group mail id: makin97NSEtips@yahoogroups.co.in